The deal likely would be for four years, though no dollar amounts are projected. And the report cautions that no deal is in place and another team still could top the Rangers’ ultimate offer. Rangers general manager Jon Daniels downplayed those reports of progress.

"I would expect that we would get together very soon," Daniels told the Fort Worth Star-Telegram. "It's really where it's been all along. Josh is going through his process."

Entering the offseason, there was speculation that Hamilton would seek a seven- or eight-year contract worth at least $170 million.

Hamilton, 31, has spent the past five seasons with the Rangers, winning AL MVP honors in 2010 and being named an All-Star each season. In 148 games in 2012, he hit .285/.354/.577 with 43 homers, 128 RBIs and 103 runs.

Numerous teams have been linked to Hamilton in recent weeks, including some that aren’t known for big free-agent splashes: the Baltimore Orioles, Seattle Mariners and Milwaukee Brewers.

Among the big-budget teams with interest in Hamilton are the Philadelphia Phillies, who have a big need in center field. They have missed out on free agents B.J. Upton and Angel Pagan, and they also have lost Denard Span as a trade option. However, The Philadelphia Inquirer speculates the risks (contract demands, injuries, substance-abuse issues) might be too great for the Phillies to overlook.

The Boston Red Sox also are among the teams interested in Hamilton, though The Boston Globe reports the team is wary of signing him to a long-term mega-contract.